Empowered Funds LLC Has $6.34 Million Position in ServiceNow, Inc. (NYSE:NOW)

Empowered Funds LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 34.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,087 shares of the information technology services provider's stock after acquiring an additional 1,797 shares during the quarter. Empowered Funds LLC's holdings in ServiceNow were worth $6,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Avidian Wealth Enterprises LLC increased its position in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after purchasing an additional 765 shares during the last quarter. AXA S.A. grew its holdings in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider's stock worth $304,712,000 after purchasing an additional 4,271 shares during the last quarter. HWG Holdings LP acquired a new position in ServiceNow during the 2nd quarter worth about $2,679,000. Finally, Brookstone Capital Management increased its position in ServiceNow by 25.5% in the 2nd quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider's stock valued at $10,595,000 after acquiring an additional 2,928 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

NOW traded down $28.41 on Friday, hitting $1,011.39. 1,498,472 shares of the stock were exchanged, compared to its average volume of 1,366,353. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The business has a 50-day moving average of $932.47 and a two-hundred day moving average of $825.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a PEG ratio of 5.80 and a beta of 0.98.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. During the same quarter in the prior year, the business posted $1.21 earnings per share. ServiceNow's revenue was up 22.2% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

NOW has been the subject of several research reports. Needham & Company LLC raised their price objective on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Truist Financial lifted their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. TD Cowen lifted their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Stifel Nicolaus raised their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Morgan Stanley downgraded shares of ServiceNow from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $900.00 to $960.00 in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $974.04.

Insiders Place Their Bets

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares of the company's stock, valued at approximately $3,027,502.32. The trade was a 33.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares of the company's stock, valued at approximately $3,319,372.48. The trade was a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,325 shares of company stock valued at $5,024,928. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.